OpenAI COO Brad Lightcap said Thursday that it was still premature to assess the full economic impact of artificial intelligence.
What happened: Speaking to Bloomberg technology Summit, Lightcap said the rise of generative AI has yet to significantly transform the economy. However, he and other AI leaders foresee more substantial changes in the future.
Despite initial excitement about AI’s potential to revolutionize productivity and create new jobs, the actual impact has been more subtle. Although there have been some layoffs due to AI, entire professions have not been replaced or created. It is still unclear to what extent AI has facilitated additional work.
Earlier this year, Jerome Powellthe president of Federal Reservesaid that while generative AI can improve productivity growth, it is unlikely to do so in the immediate future.
Lightcap suggested that it is still too early to determine whether AI’s potential has been overrated. He noted with humor that reshaping the economy within a year would be a daunting challenge. “We have a year to reshape the economy? It’s a big challenge! »
If OpenAI were to cease all future AI development, which it is not, Nightcap suggested it would still take a long time for the full ramifications of its existing models to materialize. However, he is “fairly confident at this point that there will be this 10 to 20 year period of diffusion across the economy of GPT-4 level technology alone.”
Other AI leaders at the event echoed Lightcap’s sentiments, emphasizing the technology’s long-term disruptive potential despite its relatively muted early effects.
“We’re probably going to overestimate this technology in the short term,” said Clement Delanguegeneral director of Cuddly face. “Maybe we’ll be disappointed in a year or two, but we’ve also probably underestimated the long-term impact of AI in 10 years. The world is going to be very different.
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Why is this important: OpenAI and other AI companies are actively preparing for this future. OpenAI, for example, grew its enterprise business by selling a custom version of ChatGPT with many corporate clients. Furthermore, on Friday it was also reported that Apple Inc. is about to integrate ChatGPT into your iPhones.
Meanwhile, OpenAI CEO, Sam Altmanhas denied development rumors a search or launch engine GPT-5, instead teasing “some new things” the company is working on. Previously, it was reported that OpenAI was set to announce its AI-powered search productpotentially intensifying its rivalry with Alphabet Inc.‘s Google.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga Publishers.
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